economics

camelion

One should not camouflage capitalist and imperialist China as “socialist”: A reply to Immanuel Ness and John Bellamy Foster

Michael Pröbsting — While Foster and Ness make correct criticisms of left-wing authors who ignore imperialist superexploitation of semicolonial countries, both fail to understand the essence of the Marxist theory of imperialism.
Trump tariff economic crash

‘Tariffs are a beautiful thing to behold’: A Marxist analysis of protectionism and the crisis of global capitalism

Dmitry Pozhidaev — Trump’s tariffs are less a blueprint for industrial renewal than a prelude to a new techno-nationalist order organised around capital control, technological dominance and regional economic blocs.
Marx working on blackboard

Was Marx wrong about the declining rate of profit? William Jefferies response to James Doughney

William Jefferies — James Doughney’s attempted refutation of Karl Marx’s law of the tendency of the rate of profit to fall is thoughtful and thorough, but ultimately wrong.
Trump tariffs

Behind Trump’s spiralling tariff war: An interview with Marxist economist Michael Roberts

Michael Roberts explains the recent raft of tariffs announced by US President Donald Trump, how they fit into his broader project to reassert US global hegemony, and what a left response could look like.   
War graphic

From welfare to warfare: military Keynesianism

Michael Roberts — Keynesianism advocates digging holes and filling them up to create jobs. Military Keynesianism advocates digging graves and filling them with bodies to create jobs.
Marx crisis

Marx was wrong about the declining rate of profit. Isn’t it time we put this false idea to rest?

James Doughney — Careful attention to Marx’s exposition of the theory of the declining rate of profit demonstrates that his theory is not coherent, even in its own terms.

The epochal crisis of global capitalism — Challenges for popular resistance from below

William I Robinson — Faced with an unprecedented crisis of epochal proportions, global capitalism’s extermination impulse is rising to the surface. Never has the slogan “resist to exist” been more opportune and appropriate.
capital flows

Surplus profits, capital exports and imperialism: An interrogation of commonly held beliefs and assumptions

James Doughney interrogates some commonly held beliefs and assumptions about monopoly capital, surplus profits and the export of capital — and explains why they are not coherent.
Lenin imperialism export capitals

The place of capital exports in Lenin’s conception of imperialism — A response to John Bellamy Foster

James Doughney — It is hard to avoid thinking that any attempt to airbrush Lenin’s ‘Imperialism’ is a form of avoidance behaviour in the face of awkward but stubborn facts.
Serbian election protests

Serbia in 2024: A mirror on capitalism’s global crises

Dmitry Pozhidaev — In 2024, Serbia offered a particularly clear reflection of the three core dimensions of capitalism’s crisis: political, economic and systemic.
Socialism for today david kotz

Reimagining socialism: An interview with David Kotz

David Kotz dissects the lessons from the Soviet model, explains why capitalism cannot be reformed and makes a case for democratic socialism.
Nobel Prize economy winners

The Nobel Prize for Institutions: A critique of Acemoglu and Robinson’s framework

Dmitry Pozhidaev — In many ways, Acemoglu and Robinson’s framework echoes the “end of history” thesis popularised by Francis Fukuyama.